This project quantifies the damages caused by flooding in England and Wales between December 2013 and March 2014.
The total economic damages for England and Wales from the winter 2013 to 2014 floods were estimated to be between £1,000 million and £1,500 million, with a best estimate of £1,300 million. Residential properties suffered the greatest proportion of flood damages, with 25% of total damages occurring to this sector.
The methodology will be used to update the evidence base on the economic damages of flooding and associated decision making rules for investment. Specifically, the findings will be used to update the Environment Agency’s rapid cost calculator, so that it is better at establishing the economic and financial costs of a flood soon after an event.